Notices > National Bargaining Council for the Hairdressing, Cosmetology, Beauty and Skincare Industry > [Cancelled] Extension to Non-parties of the Consolidated Collective Agreement in terms of Sec 32(2) of the LRA > Annexures > Hairdressing Beauty and Skincare Industry Pension Fund : Broker/Intermediary Exemption Application Form

N.B: NOTE THAT IN THE EVENT THAT THE APPLICANT IS NOT SATISFIED WITH THE DECISION OF THE EXEMPTION COMMITTEE THE APPLICANT IS ENTITLED TO APPEAL AGAINST THE OUTCOME WITHIN 30 DAYS AFTER IT BECAME KNOWN.

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HAIRDRESSING BEAUTY AND SKINCARE INDUSTRY PENSION FUND

BROKER/INTERMEDIARY EXEMPTION APPLICATION FORM

Registration Number / Salon Reference Number
Name of Company / Salon Name
Address
Telephone Number
Email Address
Facsimile Number
Contact Person

In applying for an Exemption please fill in the above and details required below. No exemption application will be considered if this form is not duly completed and Annexure A signed by all employees concerned. Exemption will only be considered if the company has an existing Fund whose benefits are superior to those of the Council's Fund. Retirement Annuities will only be considered if certain specific criteria are met as defined in Board's exemption policy.

Fund Name:
FSB Registration Number:
No. of Employees Affected:
Kindly complete (or arrange for your financial broker/intermediary to complete) the checklist below and attach a copy of the company scheme rules as proof.
Date of Application:

Type of Fund:

Pension Fund

Provident Fund

Full name of Umbrella Fund:

FUND APPLYING FOR EXEMPTION		Costs/Fees as percentage of salaries
Gross Employer contributions
less: Basic administration fee
less: Asset based administration fee (if any)
less: Employer participation fee
less: Intermediary/Distribution fee
less: Governance/Fund costs
less: Death and Disability costs
less: Funeral costs
less: Critical Illness Benefit
less: Any other costs/fees not disclosed above
Net Employer contributions
plus: Member contributions
Total Net Retirement contributions

(All Administration costs MUST be disclosed, such as asset based fees charged in addition to normal member administration fees, as well as all governance/fund costs, distribution and intermediary fees and employer participation fees). Failure to do so will result in an automatic disqualification.

Investments:

Name/s of the underlying Investment Portfolio/s: _______________________________________

Portfolio/s Returns up to date of application:

Portfolio	Month	1 Year	3 Years	5 Years
Return
Benchmark

(A copy of the Fund Fact Sheet of the underlying portfolio/s must be provided)

YES

Total Investment Charge of the Portfolio/s, including guarantee rate if applicable:
If Stable Growth or Monthly Bonus type of Portfolio/s, percentage of guarantee:			__________________________________
Investment Objective of Portfolio/s:

BENEFITS	HBSI Pension Fund (HCSBC Members)	FUND APPLYING FOR EXEMPTION
Death Benefits	Share of Fund, plus 3x Annual Pensionable Salary
Retirement Benefits	Share of Fund
Disability Benefits	Share of Fund plus 3x Annual Pensionable Salary after 6 months waiting period
Resignation / Retrenchment / Dismissal Benefits	Share of Fund
Funeral Benefits	Main member / Spouse R10 000-00 Child 14 to 21 years R10 000-00 Child 6 to 13 years R 5 000-00 Child 1 to 5 years R 2 500-00 Stillborn to 11 months R 2 500-00
Critical Illness Benefit	R 50,000.00 benefit to an insured who is diagnosed with any of the 16 Critical illness conditions specified

Full Pension Fund documentation of Fund applying for exemption must be attached, including signed quotation, Special Rules, etc.

YES

Does the Rules allow for resignation benefits to be paid whilst still working in the Industry

YES

Name of Person Completing Form:
Designation of Person Completing Form:
Telephone Number:
Signature

On completion, please return to [email protected]

List of Employees (each Employee to sign a letter of understanding, see example below)

SURNAME	FIRST NAME/S	I.D. NUMBER	BARGAINING COUNCIL NO.	SIGNATURE OF EMPLOYEE

Example of letter to be signed by every Employee:

"I, ................................., ID Number ............................ Hereby declare that I understand the consequences of the application of Exemption of the HBSI Pension Fund. I agree to abide by the outcome.

Signature: ............................ Date: ............................

Full Name and Surname: ............................................. "

Labour Relations Act, 1995 (Act No. 66 of 1995)

Notices

National Bargaining Council for the Hairdressing, Cosmetology, Beauty and Skincare Industry

Extension to Non-parties of the Consolidated Collective Agreement in terms of Sec 32(2) of the LRA

Annexures

Hairdressing Beauty and Skincare Industry Pension Fund : Broker/Intermediary Exemption Application Form